Potato up 3% on spot demand

Potato prices rose by three per cent to Rs 563.90 per quintal in futures trade today as traders enlarged their positions on pick-up in spot market demand.

At the Multi Commodity Exchange, potato for delivery in June rose by Rs 16.40, or three per cent, to Rs 563.90 per quintal, with a business volume of 205 lots.

Potato prices for delivery in May traded higher by Rs 16.20, or 2.92 per cent, to Rs 571.90 per quintal, with a business volume of 677 lots.

Likewise, prices for delivery in April rose by Rs 15.50, or 2.65 per cent, to Rs 601.40 per quintal, with an open interest of 494 lots.

 

Market analysts said increased buying by traders and speculators on pick-up in demand in the spot market mainly led to the rise in potato prices at futures trade.

Restricted arrivals from producing belts in Agra and Haldwani also influenced the trading sentiment to some extent, they added.